Strategic Blueprint LLC Reduces Holdings in Truist Financial Co. (NYSE:TFC)

Strategic Blueprint LLC lowered its stake in Truist Financial Co. (NYSE:TFC) by 6.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,754 shares of the insurance provider’s stock after selling 939 shares during the quarter. Strategic Blueprint LLC’s holdings in Truist Financial were worth $631,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Norden Group LLC acquired a new position in shares of Truist Financial in the first quarter worth $2,351,000. Nordea Investment Management AB raised its stake in Truist Financial by 44.4% in the 1st quarter. Nordea Investment Management AB now owns 2,712,848 shares of the insurance provider’s stock valued at $105,353,000 after purchasing an additional 834,048 shares during the last quarter. CreativeOne Wealth LLC purchased a new position in Truist Financial in the 1st quarter valued at about $516,000. M&G Plc acquired a new stake in shares of Truist Financial during the 2nd quarter worth about $2,804,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Truist Financial by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock worth $346,957,000 after buying an additional 299,196 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on TFC shares. Citigroup lowered shares of Truist Financial from a “buy” rating to a “neutral” rating and raised their target price for the stock from $45.00 to $47.00 in a research report on Wednesday, July 24th. The Goldman Sachs Group dropped their target price on Truist Financial from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Bank of America raised their price target on Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Compass Point increased their price objective on shares of Truist Financial from $46.00 to $47.00 in a report on Wednesday, October 16th. Finally, Robert W. Baird lowered shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price target for the company. in a research report on Wednesday, July 17th. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $46.02.

Truist Financial Stock Performance

Truist Financial stock opened at $43.31 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. Truist Financial Co. has a one year low of $27.88 and a one year high of $45.31. The stock’s 50 day moving average price is $42.83 and its 200 day moving average price is $40.59. The firm has a market capitalization of $58.00 billion, a PE ratio of -30.29, a price-to-earnings-growth ratio of 1.77 and a beta of 1.05.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.80%. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

About Truist Financial

Truist Financial Corporation, a financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings.Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.